Timeline to file an appeal of real estate valuations has April 14 as deadline for an informal appeal. (Linn Country Appraiser's Office)
MOUND CITY – The deadline of April 14 is coming up quickly for Linn County real estate owners who want to file an appeal of their property value or assessment classification.
For more information, go to linncountyks.com and under departments click on Appraiser’s office. An appeal form can be obtained there which can be sent to linncoappraiser@linncountyks.com or mailed to Linn County Appraiser’s Office, PO Box 350, Mound City, KS 66056. Only appeal forms postmarked by the April 14th, 2023 deadline will be accepted.
If a property owner feels the appraised value is more than they feel they could reasonably get if the property was sold, or if it is felt that the classification is incorrectly assigned, then the property owner should consider an appeal, according to a release by the appraiser’s office.
Once an appeal is received, the Appraiser’s Office will schedule an informal appeal meeting. Those meetings can be done by phone or held in person.
Documentation that supports the appeal should be prepared by the property owner in advance. That can include a recent appraisal, pictures of the condition of the property that cannot be seen from outside, a list of comparable properties that have sold recently.
Once the informal appeal deadline has expired, the next opportunity to appeal is when 2023 tax bills are due, which is on or before Dec. 20, 2023.
Notice of new valuations went out to property owners in mid-March.
Linn County Appraiser Kathy Bridges was the bearer of mixed news on the real estate front when she reported to the Linn County Commission on Monday, March 20.
The bad news: The fairly hot real estate market in the first half of 2022 saw valuations for residences in Linn County continue to increase. That means that residential property owners who recently got tax valuations notices in the mail saw their property values increase.
According to Bridges, overall residential valuations jumped an average of 14%, and commercial valuations rose 11.3%. Those figures did not include new construction valuations.
The overall assessed (or taxable) valuation increased by 16.8%. That excludes exempt property that is not taxable.
While there is rarely good news when it comes to taxes there is some news that the housing market appears to have peaked, according to the Appraiser’s Office.
The housing market in the last half of 2022 began to return to normal conditions with houses and farmsteads remaining on the market longer. If that trend continues, the valuation report a year from now should show smaller increases for 2023.
As Bridges has reported in the past, the valuation for tax purposes is based on current real estate market values. And while the tax levy for residential property is based on just over a tenth (11.5%) of the market value, property owners are finding that still translates into substantial property tax increases when a house that three years ago sold for $100,000 now sells for as much as $40,000 more.